The Press Release

CostPerform and Armada strengthen global positions with announcement of Acumen acquisition 

FOR IMMEDIATE RELEASE 

Baltimore, MD and Tulsa, OK – October 31st, 2025  

CostPerform, a global leader in advanced costing and performance management software, today announced the acquisition of the Acumen Cost Analytics software from Armada Solutions, a Tulsa-based analytics and consulting firm specializing in profitability management and financial performance solutions. 

The transaction establishes a long-term strategic partnership between the two companies to accelerate innovation and adoption of cost and profitability analytics solutions across the financial services industry. Under the agreement, Armada will serve as CostPerform’s preferred implementation and services partner for the US banking sector, combining CostPerform’s powerful software capabilities with Armada’s deep domain expertise in finance transformation and strategic cost modeling. 

A Shared Mission to Empower Finance Teams 

Armada, founded in 2002 by Scott Wise and headquartered in Tulsa, Oklahoma, has spent more than two decades helping Fortune 500 companies and top U.S. banks design and implement profitability analytics that turn financial insight into profitable decision-making. Armada’s flagship Acumen Cost Analytics platform, an activity-based cost modeling solution used by several top U.S. banks, has been recognized for its multidimensional modeling, rapid deployment capability, and ability to link financial data to operational drivers.  

Founded in 2001 in the Netherlands, CostPerform has become a global standard for cost and profitability management. They work with more than 150 organizations in 25 countries, including over 50 major financial institutions, helping clients gain transparency into their true cost-to-serve and profitability drivers. Its software enables finance teams to model complex cost structures, perform “what-if” simulations, and integrate risk-adjusted performance insights across all dimensions of the business. 

By bringing these capabilities together, CostPerform and Armada will deliver a new generation of Actionable Profitability Analytics, emphasizing transparency, traceability, and transformation in a unified solution for finance leaders. 

Statements from Leadership 

“This acquisition represents an alignment of vision and capability,” said Sander den Hartog, CEO of CostPerform. “Armada has built world-class expertise in strategic cost and profitability analytics for banking, and their methodologies perfectly complement our technology platform. Together, we can accelerate the industry’s move toward real-time, actionable profitability insights.” 

Scott Wise, Founder and CEO of Armada, added: “CostPerform’s platform is best-in-class for cost modeling and profitability management. By combining it with Armada’s proven frameworks, we’re creating the most comprehensive suite of capabilities available for finance organizations. This partnership allows us to continue our mission: helping CFOs and finance teams deliver actionable financial analytics for every decision.” 

Partnership Scope and Future Vision 

Under the partnership, Armada will become CostPerform’s global services and solutions partner for the financial services industry, providing consulting, implementation, and managed analytics services. The two firms will collaborate on: 

• Client transition programs to migrate Acumen users to CostPerform’s SaaS platform; 

• New profitability analytics accelerators incorporating Armada’s methodology into CostPerform’s cloud solution; and 

• Thought leadership initiatives, including workshops, research, and events on cost and profitability management for the future AI-driven finance function. 

The companies will also co-develop Profitability Analytics as a Service (PAaaS) offerings in 2026, combining CostPerform’s secure, scalable SaaS technology with Armada’s managed services delivery to help organizations achieve faster speed to value and lower total cost of ownership. 

About Armada LLC 

Armada LLC, operating as Armada Consulting and Armada Solutions is a Tulsa-based financial analytics and consulting firm founded in 2002 by Scott Wise. Armada is recognized as an innovator in cost and profitability analytics, providing consulting services, training, and managed services solutions that help finance teams move from reporting past performance to driving future profitability. Armada’s methodologies are documented in Wise’s book Actionable Profitability Analytics and have been implemented in multiple top-tier banks and Fortune 500 companies. Learn more at www.armadaconsulting.com.  

About CostPerform 

CostPerform is a leading provider of advanced costing and performance management software. Headquartered in Utrecht, the Netherlands and Baltimore, Maryland, the company serves clients in over 25 countries across sectors including financial services, government, telecommunications, manufacturing, and healthcare. CostPerform’s software enables organizations to model costs, simulate scenarios, and measure profitability at every level of the enterprise, empowering smarter decisions through data-driven insight. Learn more at www.costperform.com. 

Media Contacts 

Armada LLC 
Public Relations 
[email protected] 
+1 (918) 856-3414  

CostPerform 
Media Relations 
[email protected] 
+31 (0)30 238 0100